Air Group launch product relationship with free2
13 July 2021
Air Group, the leading later life services platform, has today (13th July 2021) launched a new product relationship with free2, the over-55s credit broker.
Adviser members of Air Group, who have their credit broking permissions, will be able to access an Unsecured Loan arranged by free2, which comes with a number of unique features including:
- A minimum loan amount of £15k and maximum of £150k with a minimum term of five years and maximum of 20 years. The loan must be repaid before the customer’s 75th birthday.
- Interest rates start from circa-6% to 8% APR, depending on customer circumstances, and are fixed for the entire loan repayment period. If the customer clears the balance early, no fee will be charged.
- If the borrower dies before the loan has been repaid, then any outstanding debt is wiped off, meaning there will be no residual debt to be repaid by the borrower’s beneficiaries.
Air Group said this new relationship would add a further product to its members’ toolkit and would be particularly useful for those customers who may need shorter-term finance, who have first-charge mortgages they want (or have) to keep in place, or if their property fails later life loan underwriting.
Advisers recommending the free2 product will be able to access a quick decision-in-principle process and clients can normally receive the money in a matter of days from the initial enquiry.
Air Group said it had negotiated a market-leading commission for its Club members and the product is now available to them.
Stuart Wilson, CEO at Air Group, commented:
“Air Group are evolving into the next phase of adviser needs and this is about having the most appropriate products to solve customers’ various needs and challenges. We have been impressed by free2 and its unsecured loan product offering as it meets specific needs for consumers and the process for advisers to expand this product into their portfolio will be straightforward. We believe the relationship with free2 will enhance advisers’ consumer offering to set them apart from their competitors.”
Jason Sparrow, Chief Distribution Officer at free2, said:
“We needed an advice-driven approach and the AIR Group’s adviser members provide us with the best fit for the increased level of support we will be offering over 55s as they make important life decisions. Our mission is to help over 55s make better financial choices and we believe this partnership will help more people reach their goals and achieve their dreams.”
For further information on free2, please visit: www.free2.com
